Bellway forecasts average selling price will top £305k in hiked guidance March 29, 2022 Property developer Bellway has said it expects its average selling price to be more than £305,000, up on previous guidance. In half-year results, revenue rose 3.5 per cent to £1,780m, up slightly on 2021’s figure of £1,720m. The housing developer said the forward visibility provided by the order book meant that the average selling price [...]
Prices in prestigious London areas could dip as Russians rush to sell homes March 28, 2022 Real estate experts have said the impact of sanctions on Russians could lead to a saturated market in some of London’s priciest neighbourhoods. “While the sanctions against Russia only impact a relatively small pocket of the market, the prime market is one that very much operates on quality over quantity,” according to director of Benham [...]
Shrinkflation: Cadbury reduces size of Dairy Milk bars as inflation pressures hit March 28, 2022 Cadbury has downsized the size of its Dairy Milk sharing bar as it feels the bite of rising costs. Parent company Mondelez said it was shrinking the size of the bars by 10 per cent as it faces inflationary pressures. The chocolate bar will be reduced from 200g to 180g, but still sold at £2. [...]
Car dealership Lookers sells Battersea site for £28m March 28, 2022 Car dealership chain Lookers has sold a freehold dealership property in Battersea, south London for £28m. The 95,000 sq ft property was sold with Urban Logistics REIT, with a 20-year lease agreed at an initial rent of £1.25m per year. Lookers CEO Mark Raban said: “We’re pleased to have agreed the selective sale and leaseback [...]
Ted Baker turns down Sycamore’s £250m takeover bid March 28, 2022 Fashion chain Ted Baker has rejected a £250m takeover bid from New York based private equity firm Sycamore. The US firm had tabled a £250m offer for the chain last week, it was reported by Sky News at the weekend. The London-listed retailer confirmed it had rejected two non-binding proposals from Sycamore regarding a possible [...]
Profit swells to £6m for Brighton Pier Group after staycation boom and tax reliefs March 28, 2022 Brighton Pier Group said its profit before tax hit £6.6m in its half-year results, as pent up demand from families caused a £4m leap. The amusement park operator said the family entertainment market had been buoyed by holiday makers opting for staycations amid the pandemic. Profit before tax surged beyond the £2.7m sum for the [...]
Tandem Group revenue surges past £40m despite bicycle supply issues March 28, 2022 Sporting equipment supplier Tandem Group has seen revenue jump despite stock availability issues with bicycles. In results for the year to 31 December, revenue increased approximately 10.4 per cent to £40.9m. Its bicycle division finished 12 per cent behind the previous year with stock availability having “proved to be a significant problem throughout the year.” [...]
Renters hunt for pet friendly landlords as millions of Brits took a dog during lockdown March 26, 2022 London renters are increasingly eager to find pet friendly landlords, after millions of Brits bought animals during lockdowns. Estate agency Chestertons said some 25-35 per cent of renters hunting for properties in the capital at the moment are pet owners. Demand for London rental homes is increasingly high as office workers look to return to [...]
Co-op heralds first female CEO as Steve Murrells steps down March 25, 2022 Co-op Group CEO Steve Murrells is to step down, paving the way for the supermarket’s first female boss. Shirine Khoury-Haq, who currently holds the role of group CFO and CEO of Co-op Life Services, will become interim CEO this spring. Exiting boss Murrells will step down after the supermarket’s AGM in May and said the [...]
Crombie snapped up by private investors for undisclosed sum March 25, 2022 One of the oldest British brands, Crombie has been acquired as its new owners declare the fashion firm “open for business”. Crombie, known for its iconic Crombie coat and other designs adopted by royals and politicians, was snapped up for an undisclosed sum. Under the name Crombie 1805, the acquiring company is led by managing [...]
